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Friday, March 29, 2024

Import & Export Prices Languish Inj Deflation For 10th Straight Month

Courtesy of ZeroHedge View original post here.

With the dollar plunging, one could be forgiven for thinking import and export prices would be rising fast, but according to the latest data from the Bureau of Labor Statistics, both continue to languish in annual deflation.

  • Import prices rose 0.1% MoM (less than the expected 0.3% rise) leaving YoY at -1.0% (worse than the -0.9% expected)

  • Export prices rose more than expected at +0.6% MoM pushing the YoY change up from -1.6% to -1.1%

Source: Bloomberg

That is the 10th straight month of deflation for both import and export prices.

However, core import prices (ex-food and fuel) rose 1.6% y/y in November…

Source: Bloomberg

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